Fresh ideas with a fresh approach to selling businesses

Thinking of selling your business
Steps of the Sales Process

The Crescent Corporate Finance Way

At Crescent we try to simplifying the sales process and focus on introducing potential buyers to your business and uniquely, break down the sales process into manageable stages which allows you to choose and pay only for for each stage of the process that you require.

Each Company sale is a unique process and particular to the selling Company and purchaser involved.

1. Owner/Vendor makes decision to begin exit strategy through the sale of the business.
2. Vendor arranges initial appraisal meeting with Crescent Corporate Finance Limited (CCF) to discuss key concerns including;
   
   
   1. Who is likely to buy my business?
   2. How much is it going to cost?
   3. What’s my business worth?
   4. How will you sell it and keep it confidential?
      
      During this meeting our unique sales process is fully explained which can
      be summarised into 3 clear steps as follows;
      
      i) We will send a blind profile of your business to over 30,000 intermediaries, including accountants, Private Equity houses, bankers, etc. Additionally, brief information is sent to a selection of some 5,000 companies who have provided specific search criteria and are actively seeking to acquire. We also approach some 1,000 active overseas acquirers ensuring maximum (confidential) exposure is achieved.
      
      All responses are managed through CCF and we will provide you with list of suitably qualified potential acquirers, from which you can determine how you wish to proceed.
      
      ii) If required, we will then produce both a confidential “teaser” document for direct approaches to potential interested parties along with the production of a full Information Memorandum which is provided to a prospective acquirer once a suitable Non Disclosure Agreement (NDA) has been signed and returned to us.
      
      iii) Having identified and generated a selection of qualified prospective purchasers, we can manage the process throughout, which will include;
      
      - Sending NDA’s to potential buyers
      - Dealing with further information requests
      - Progressing interest to formal offers
      - Negotiating offers to identify preferred bidders
      - Co coordinating all advisors involved in the process
3. Subject to reaching agreement, CCF are appointed and formally engaged through signing a clear letter of engagement depending on the services required.
4. The preparation process commences with CCF obtaining from the vendor all necessary documentation (sales, accounts, etc) along with specific key information. CCF guides the vendor to ensure all supporting documentation is ready for buyer enquiries and ultimately due diligence.
5. CCF prepares the Information Memorandum (IM) and confidential teaser document, ensuring all initial information requirements are satisfied.
6. Vendor signs approval for the Information Memorandum and agreed marketing strategy.
7. CCF commences marketing consistent with our unique process highlighted in 2).
8. CCF manages all buyer responses and enquiries, ensuring that;
   
   
   1. Buyers are qualified by suitability
      
   2. Each buyer signs and returns a Non-Disclosure agreement (NDA)/confidentiality undertaking before receiving any further information.
      
   3. The full IM is subsequently provided to the buyer.
      
   4. All buyer questions are directed through CCF.
      
   5. CCF arranges meetings as appropriate between the vendor, buyer and where necessary advisors, either on site or at an alternative convenient location.
      
   6. All meetings, details provided are managed by CCF
9. Subject to satisfactory negotiations and possible further enquiries the buyer submits an offer to CCF.
10. CCF reviews all offers with the vendor to determine the appropriate response.
11. Further negotiation continues as necessary, managed by CCF, until an offer is accepted. Legal advisors if not already in place will now be appointed.
12. Once an acceptable offer is made a Heads of Terms (HoT) agreement is drafted (normally) by the buyer’s legal advisors and signed by both parties. This will also determine the period of exclusivity for due diligence.
13. The transaction process now begins, co-ordinated through CCF.
14. The buyer commences due diligence encompassing legal, financial and commercial detail. Normally the SPA (Sale Purchase Agreement) is prepared at this time.
15. CCF works with the vendor to ensure all necessary documentation to support the due diligence is made available in a timely fashion.
16. CCF liaises with legal and financial representatives of both vendor and buyer to ensure that the deal process remains on track and that any issues are resolved expediently and effectively.
17. Once due diligence is satisfactorily completed, the sale and purchase agreement is finalised by the buyer and/or vendors legal advisors and signed by both parties effecting exchange.
18. The deal is completed.
19. Time to relax!